Investment firm Pantera Capital has observed a significant change in US President Joe Biden's attitude towards crypto policy. This is despite Biden's recent blocking of a pro-crypto industry bill that seeks to eliminate a controversial directive from the Securities Exchange Commission (SEC) that prevented major US banks from offering large-scale crypto custody services. Pantera Capital analysts Jiang and Lowe quoted CCN as saying that Biden's decision to veto SAB121 may have been due to his reluctance to speak out against SEC Chairperson Gary Gensler. As president, Biden tends to respect the independence of regulatory agencies such as the SEC, which are separate from the executive branch. Many young cryptocurrency owners are so passionate about the importance of crypto to the world that they are often the only voters on the issue. This attitude may appeal to young voters to nominate candidates they may not have considered before.